There are growing indications that Russian businessman Dmitry Punin has been targeted by organised crime in an apparent attempt to pressure him into paying protection money.
Within the space of three weeks, organised criminal groups appear to have sent at least three clear warnings to the 40-year-old entrepreneur. The latest attack, which targeted Punin’s wine and spirits shop in Germasogeia, is seen by investigators as part of a broader pattern rather than an isolated incident. Police sources believe the attacks amount to a message not only to Punin but also to other business owners in Limassol, signalling who holds power in the city’s criminal underworld.
A renewed sense of insecurity
The latest arson attack has once again unsettled Limassol’s business community. Several entrepreneurs are expressing concern that police may be unable to guarantee security, even for individuals who are reportedly under surveillance and subject to protective measures.
Following the murder of Demosthenous on October 17, 2025, Limassol experienced a period of relative calm lasting almost a month. That calm now appears to have been temporary. Since November 27, organised crime activity has resurfaced with a series of violent incidents.
Punin is known to maintain close ties with the Demosthenous family and was called in for questioning after the killing as part of the victim’s close circle.
A series of coordinated attacks
On November 27, an unknown individual set fire to vehicles parked in a fenced outdoor parking area next to Punin’s residence in the Mouttagiaka area. Four luxury vehicles were completely destroyed, two belonging to Punin, one to his son and one to a close associate.
On December 8, an arson attack targeted a car wash, destroying customers’ vehicles. The owner of the business is said to have professional and personal ties to Punin.
In the early hours of Wednesday morning, an unknown assailant set fire to a wine shop owned by Punin, causing extensive damage to the premises.
Police are investigating whether the incidents are connected. There are indications that at least two of the attacks may have been carried out by the same individual. While the financial damage in some cases was substantial, police believe the motive was not material loss but intimidation.
Extortion under investigation
Officially, police say they are examining the motives behind the attacks. Unofficially, there are strong indications that Punin has been targeted as part of an extortion scheme, aimed at forcing him to submit to protection payments.
A reliable source told Politis that Punin had recently expressed fears to police following threats he had received. Although he initially stated that he had not been threatened, he later revised his position and shared further information with investigators.
In response, police introduced precautionary measures to protect him. Following the latest attacks on his businesses, those measures are expected to be stepped up.
Limassol CID chief Kostas Michaelis said police have carried out a risk assessment and are implementing specific measures to protect both Punin and his property, including frequent patrols near his home and business premises.
According to the same sources, Punin remains in Cyprus and has adopted strict personal security measures. In recent years, he has invested significant sums across multiple sectors in Cyprus, signalling that he sees his future in Limassol and has no intention of leaving.
Business community on edge
An attempted murder of a Ukrainian national outside a luxury Limassol hotel in late September, followed by the killing of Demosthenous, had already triggered unease among business figures based in the city. Some had begun to quietly consider relocating.
The latest attacks linked to Punin have reignited those concerns. Many business owners are once again questioning whether they can feel safe in Limassol and, more broadly, in Cyprus.
Against this backdrop, doubts are also being raised about the adequacy of policing, particularly in terms of preventive action to deter organised criminal activity before it escalates into violence.